GE’s renewable energy business in Schenectady to report to Paris

As the European Union extended its anti-trust probe into General Electric Co.’s acquisition of the power business of Alstom of France, GE revealed that the center of gravity of its renewable energy business will shift from Schenectady to Paris.

Under the terms of the $17 billion deal, GE and Alstom had already agreed to form a renewable energy joint venture that both companies would own. Alstom is surviving as a standalone company that includes its well-known transportation businesses.